NEWS RELEASE 

 


GTA REALTORS® RELEASE MONTHLY RESALE HOUSING MARKET FIGURES

 

TORONTO, September 5, 2013 -- Greater Toronto Area REALTORS® reported 7,569 residential transactions through the TorontoMLS system in August 2013.  This represented a 21 per cent increase compared to 6,249 sales in August 2012.

 

“Sales were up strongly this past August for all major home types compared to last year.  Many households have accounted for the added costs brought on by stricter mortgage lending guidelines and have reactivated their search for a home.  These households have found that a diversity of affordable ownership options exist throughout the GTA,” said Toronto Real Estate Board President Dianne Usher.

 

The average selling price for August 2013 was $503,094 – up by almost 5.5 per cent compared to the average of $477,170 in August 2012.  The MLS® Home Price Index (HPI) composite benchmark was up by 3.7 per cent over the same period.

 

“Despite an increase in borrowing costs during the spring and summer, an average priced home in the GTA has remained affordable for a household earning an average income.  With this in mind, tight market conditions are expected to promote continued price growth through the remainder of 2013,” said Jason Mercer, TREB’s Senior Manager of Market Analysis.

 

Summary of TorontoMLS Sales and Average Price August 1 - 31

2013

2012

Sales

Average Price

New Listings

Sales

Average Price

New Listings

City of Toronto ("416")

2,665

$518,145

4,475

2,237

$496,927

4,247

Rest of GTA ("905")

4,904

$494,914

7,733

4,012

$466,155

7,436

GTA

7,569

$503,094

12,208

6,249

$477,170

11,683

TorontoMLS Sales & Average Price  By Home Type August 1 - 31, 2013

 

Sales

Average Price

 

416

905

Total

416

905

Total

 

 

Detached

846

2,789

3,635

783,708

590,583

635,531

 

Yr./Yr. % Change

23.0%

24.6%

24.2%

4.7%

5.1%

4.9%

 

Semi-Detached

231

536

767

576,022

409,322

459,528

 

Yr./Yr. % Change

7.4%

16.5%

13.6%

8.7%

5.1%

5.8%

 

Townhouse

285

938

1,223

416,463

374,494

384,274

 

Yr./Yr. % Change

12.6%

19.2%

17.6%

-0.8%

6.7%

4.5%

 

Condo Apartment

1,280

506

1,786

357,572

293,825

339,512

 

Yr./Yr. % Change

21.4%

16.9%

20.1%

2.3%

7.1%

3.7%

 

 

 

 

 

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